Sec. 74-51. - Open space land owned by the Mill Cove Conservancy.

The real property described as Assessor's Plat 334, Lots 243 and 244, as said lots appeared in the records of the tax assessor as of December 31, 2006, held and used by the Mill Cove Conservancy, Inc., a not-for-profit corporation organized under the laws of the State of Rhode Island, and exclusively used for the purpose of conserving open space as that term is defined in G.L. § 45-36-1 et seq., shall be exempt from taxation by the city; provided, however, that before any such property is sold or otherwise disposed of, the transaction shall first be submitted to the city council for its approval upon such terms and conditions as the city council deems advisable.

(Ord. No. O-08-4, § I, 1-15-08)